Fans who had been looking forward to a remake of [lastfm link_type=”artist_info”]The Beatles[/lastfm] film Yellow Submarine in 3-D, with 16 Beatles tracks, shouldn’t hold their breath.

The Hollywood Reporter reveals that Disney has backed out of it’s Yellow Submarine 3-D commitment, and sources say it’s due to budget concerns.

Robert Zemeckis (Forrest Gump, Back To The Future, Who Framed Roger Rabbit?) was to direct the remake. But sources say Disney lost interest in Zemeckis, who also produced the animated movie, Mars Needs Moms, a recent Disney flick with a budget of $150 million and a return of merely $6.9 million on opening weekend. Disney claims, though, that the Yellow Submarine 3-D project was called off well before Mars Needs Moms opened.

The Beatles were to be played by Cary Elwes, Dean Lennox Kelly, Peter Serafinowicz and Adam Campbell utilizing motion capture animation. But realistic motion capture hasn’t been time tested for audience approval.

There is still hope for Yellow Submarine 3-D as Zemeckis is free to shop the project around and find another studio that might approve of his style.